Cryptocurrency

Ackerman is now subjected to a ban from participating in any trading activities within CFTC-regulated markets and is prohibited from registering with the CFTC. Alongside these restrictions, the judgment mandates Ackerman to provide $27 million in restitution to the victims who suffered from his fraudulent digital asset trading scheme. Additionally, Ackerman is compelled to pay a $27 million civil monetary penalty, serving as a substantial financial consequence for his involvement in the deceptive scheme.Continue Reading on Coin Telegraph More

The European Parliament passed the Data Act on March 14, but negotiations among EU lawmakers on the bill’s final version have been ongoing. The act is focused on the fair use of industrial data and removing barriers to fairly sharing data generated by a range of data-centered services, such as the Internet of Things.Continue Reading on Coin Telegraph More

According to the available documents, Kirkland & Ellis law firm implemented a blended hourly billing rate of $1,313.18 for the provision of various services throughout April. The cumulative fees assessed for the legal services rendered by both attorneys and paralegals amounted to a figure surpassing $1.4 million. Continue Reading on Coin Telegraph More

According to Deaton, the fact that roughly 80% of Bitcoin has not been moved might be a sign that individuals are not selling.He highlights the possibility of Bitcoin reaching $50K or even $75K, saying he is interested in seeing what happens with that percentage at these prices.”If nearly 80% of Bitcoin hasn’t moved, it might be a sign that people aren’t selling. Very interested to see what happens with that percentage at 50K and 75K,” Deaton tweeted.As investors remain hesitant to sell, the amount of the Bitcoin supply that remains inactive is increasing. On June 26, crypto analyst shared a comment by Stanley Druckenmiller, which indicated that 86% of the people who owned Bitcoin at $17,000 did not sell their BTC when prices plunged to nearly $3,000.In another tweet, Will Clemente noted that despite Bitcoin roughly doubling off its lows, every day a new record high is set in the amount of supply that has not moved in at least a year.The past week has seen a gold rush of spot Bitcoin ETF applications led by BlackRock (NYSE:BLK), the largest global asset manager. As a result, BTC has risen from $25,000 to over $31,000, setting new yearly highs.On-chain analytics firm Glassnode observes that a stable equilibrium was reached at about $26,000 before the price rally.According to Glassnode’s weekly analysis, this could indicate that investor psychology has switched away from the 2022 bear outlook and toward viewing breakeven levels as an opportunity to build a position rather than taking exit liquidity.At the time of writing, Bitcoin was recording mild losses, albeit still above the $30K mark. BTC was trading marginally up in the last 24 hours at $30,226.Deaton continues to reel with optimism as regards the Bitcoin price. As previously reported, the CryptoLaw founder asked his Twitter followers over the weekend if they thought Bitcoin’s market valuation could someday reach half that of gold. Deaton said that if this occurs, the price of Bitcoin might reach $300,000, nearly 10 times its current value.This article was originally published on U.Today More

On June 28, KuCoin officially announced the upcoming KYC system upgrade in a move to increase compliance with global Anti-Money Laundering regulations.Continue Reading on Coin Telegraph More

On June 26, a federal judge denied a motion from Binance that could have stopped the United States Securities and Exchange Commission (SEC) from issuing public statements related to the case.Continue Reading on Coin Telegraph More

The company “has begun the process of soliciting interested parties to the reboot of the FTX.com exchange,” Ray said, according to the Journal’s report. The failed crypto company has been holding talks with investors about backing a potential restart of the FTX.com exchange through structures such as a joint venture, the report added citing people familiar with the discussions. Lawyers for FTX did not immediately respond to a Reuters request for comment. In November, FTX filed for Chapter 11 bankruptcy protection in the United States following its spectacular collapse that sent shivers through the digital assets industry. In the days leading up to the failure, customers of Sam Bankman-Fried’s crypto exchange withdrew billions of dollars, hobbling the firm’s liquidity. A rescue deal with rival exchange Binance also fell through, precipitating crypto’s highest-profile collapse in recent years. The industry has since been reeling amid the scrutiny of global regulators, while FTX founder Bankman-Fried faces a criminal lawsuit by the U.S. government for alleged fraud. More

On June 28, Sony Network Communications — a subsidiary of Sony — and Japanese Web3 infrastructure tech company Startale Labs revealed a new business collaboration and a $3.5 million investment to build a foundation for the widespread adoption of Web3.Continue Reading on Coin Telegraph More